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Tuesday 20 December 2011

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Financial Crisis

The collapse of Lehman Brothers in September 2008 helped trigger an economic and financial crisis that swept across the globe.

Financial crisis latest news

Debt crisis: as it happened December 20

Moody's warns that UK could face a downgrade as "formidable and rising challenges" such as the deficit increase since 2008 have eroded ability to absorb further fiscal shocks.

20 Dec 2011

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Britain's credit rating could be cut, Moody's warns

Britain's credit rating could be cut if the euro crisis worsens, a major financial agency has warned

20 Dec 2011

Markets jump as euphoria sweeps across Europe on ECB bank rescue

Southern Europe's battered debt markets are basking in a glorious pre-Christmas rally as hedge funds and investors celebrate a blast of cheap liquidity from the European Central Bank.

20 Dec 2011

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Bank of England: Brussels is an obstacle to reducing risk

One of the biggest threats to financial stability in the UK is potential interference by the European Union (EU) that would create a "race to the bottom" between regulators, the Bank of England has warned.

20 Dec 2011

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Moody's: UK credit rating at risk if growth stalls

A collapse in economic growth, an escalation in the eurozone debt crisis, or a wobble by George Osborne over his austerity plans would cost the UK its prized AAA credit rating, a leading rating agency has warned.

20 Dec 2011

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Americans ditch home ownership

The switch by Americans from buying to renting homes since the financial crisis has been underlined by a surge in the construction of flats.

20 Dec 2011

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Markets rally on US and German data

Stock markets rallied strongly in the United States and Europe, lifted by data showing a surge in new US housing starts, encouraging news on Germany's economy, and a successful Spanish bond auction.

20 Dec 2011

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Don't ask the ECB to intervene

Is it possible that the European Central Bank (ECB) doesn't want to intervene to end the debt crisis is because, whisper it quietly - it can’t afford to?

20 Dec 2011

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ECB helps Spanish borrowing costs halve

Spanish short-term financing costs more than halved from a month earlier at auction on Tuesday, with analysts saying banks planned to tap cheap liquidity from the European Central Bank to purchase the relatively high yielding paper.

20 Dec 2011

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IMF chief warns world economy at 'dangerous juncture'

The world economy is at a "very dangerous juncture", IMF chief Christine Lagarde said on Tuesday referring to the potential impact on poorer nations during her first visit to Africa as head of the fund.

20 Dec 2011

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France has 'no doubt' UK will help fund IMF euro bailout

France still believes Britain will help fund a planned IMF eurozone bail-out once other world powers agree to chip in, a minister said on Tuesday, despite London's reluctance to take part.

20 Dec 2011

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Little high street cheer

Top stories: Euro, Consumer confidence, NatExpress and Astra

20 Dec 2011

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Maybe Goldman Sachs really does rule the World after all

American and Japanese conglomerates have waded into the war between Occupy London activists and the City.

20 Dec 2011

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Sketch: George Osborne, from bank reformer to Hollywood villain

Michael Deacon watches the Chancellor deliver a sumptuously cruel performance as he presents his statement on banking reform.

20 Dec 2011

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Debt crisis: as it happened December 19

George Osborne stands by his refusal to contribute to an IMF fund designated specifically for a eurozone bailout, as EU finance ministers agree €150bn of loans.

19 Dec 2011

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ECB accuses eurozone leaders of creating a 'cycle of risk'

Protracted indecision among political leaders has created a "cycle of risk" with "systemic crisis proportions not witnessed since the collapse of Lehman Brothers", the European Central Bank (ECB) has warned.

19 Dec 2011

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Britain remains defiant on IMF euro bail-out

Britain refuses to give billions of pounds to help save euro as IMF warns that clouds are gathering “over European skies”.

19 Dec 2011

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Spain grits teeth yet again as austerity deepens

Spain's new premier Mariano Rajoy has launched a fresh blast of fiscal austerity at his inauguration, describing the national outlook as "desolate" and his task like that of a father feeding four hungry mouths with bread for two.

19 Dec 2011

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The leader who dares will win the battle over politics of the soul

Ed Miliband defined a 'good society’ but David Cameron has taken the higher moral ground, argues Mary Riddell.

19 Dec 2011

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EU agrees €150bn for IMF bail-out despite UK refusal

The 17-nation eurozone agreed on Monday to lend €150bn to the International Monetary Fund for use in stabilising the euro currency area, a eurozone governmental source said.

19 Dec 2011

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Strauss-Kahn: Merkel and Sarkozy 'do not understand each other'

Speaking at an economic forum in China, the former head of the International Monetary Fund voices concern over the relationship between France and Germany that he says is key to ending the Eurozone crisis.

19 Dec 2011

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North Korea security worries weigh on markets

Top stories: markets, eurozone chief speaks out, HMV and banks.

19 Dec 2011

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Draghi warns on cost of eurozone break-up

Mario Draghi, the President of the European Central Bank, has warned that a break-up of the eurozone would mean greater economic hardship for those leaving the currency.

19 Dec 2011

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Politics review of 2011

Public sector strikes, London riots, a growing economic crisis and the Arab Spring have meant an eventful 2011 for David Cameron. Rowena Mason reviews the year for British politics.

19 Dec 2011

EU demands £25bn lifeline from the UK

David Cameron will come under pressure today to resist demands to contribute more than £25 billion to a new eurozone bail-out.

18 Dec 2011

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